Pine Labs gets Lone Pine Capital shot, now valued at $2 billion

CHENNAI: Pine Labs, a merchant

commerce

platform, on Monday announced that it has raised a fresh round of undisclosed funding from

Lone Pine Capital

. With this

investment

,

Pine Labs

is now valued at more than $2 billion, the company said in a statement.

“We are thrilled to welcome Lone Pine as an investor during this exciting and transformative phase of Pine Labs’ growth journey,” commented

B Amrish Rau

, CEO, Pine Labs.

“Small businesses and consumers are fast adopting to digital commerce and contactless checkout. We are also seeing tremendous uptake in Pay Later services and have now enabled nearly 150,000 outlets for this. It’s time to invest heavily in offline and online commerce across India and SEA.”